TNAG-0381-FCO40-427-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 105

192

(1918

171

193

GRPS 200

EDIATE

CYPHER/CAT A

FM HONG KONG 060330Z

SECRET

SECRET

i

007

|HKK5|1

TO IMMEDIATE F C O TELNO 1136 OF 6TH OCTOBER, 1973.

PERSONAL FOR SIR DUNCAN WATSON.

YOUR TELNO 999: STERLING BALANCES.

COPY+1

ዐ

Cronston

n,

Goodfellas Toky

I AGREE. MY TELEGRAM 1134 AND SUBJECT TO YOUR VIEWS THE

EX.CO. PAPER TOO SHOULD BE PURELY FOR F.C.O. EYES.

呃

2. I ENVISAGE THE COURSE OF ACTION IN PARA. 1 OF MY TELEGRAM 1134

AS A FALL-BACK POSITION, FOR WHICH WE WOULD NEED EXECUTIVE COUNCIL'S

PRIOR AUTHORITY (AND THIS MIGHT NOT BE EASY), IN CASE THE TREASURY

ARE UNABLE TO ACCEPT THE PROPOSAL IN MY TELNO 1117.

3. YOU WILL APPRECIATE THAT AT PRESENT I HAVE NO AUTHORITY TO PUT

FORWARD THE PROPOSAL IN MY TELNO 1134, SO THE REPLY TO MY TELNO

WARD

1117 SHOULD TAKE THE FORM OF A REJECTION OR ACCEPTANCE OF THE PROP-

OSAL IN IT WHICH I CAN REPORT TO EXECUTIVE COUNCIL.

но

HOWEVER I THOUGH IT MIGHT ASSIST YOU IN YOUR HANDLING OF THIS

ISSUE, AND ALSO HELP TO KEEP THE TEMPERATURE DOWN IN CASE OUR PROPOSAL IS UNACCEPTABLE, IF YOU KNEW THE SOLUTION WE INTEND TO WORK

FOR IN THE LATTER EVENTUALITY.

MACLEHOSE

FILES

HD HKTOD PS/MR ROYLE MR WILFORD MR YOUDE

SIR D WATSON MR MARSHALL

SECRET

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